Inflation is a policy. It’s a tax. Like all taxes, it lands on some harder than others. And the farther you go down the wealth mountain, the harder it falls.
More from Bill Bonner
The Fed’s Fix
Larry Summers, ex US Secretary of the Treasury, went way out on a limb on Wednesday, Fox News was there: ‘Former Treasury Secretary Larry Summers predicts there will “almost certainly” be a “downturn in the economy”’:
After the Party
Inflation is always and everywhere a political phenomenon. We get inflation when the politicians spend more than they can afford…and then ‘print’ money to fill the gap. It is fundamentally a default to creditors
Bill Bonner is the editor for
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